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Home My WebLink About12.01.98 Special Council Packet ~ City of Farmington 325 Oak Street, Farmington, MN 55024 (651) 463-7111 Fax (651) 463-2591 www.ci.farminlton.mn.us . \ , , SPECIAL CITY COUNCIL l\1EETING TRUTH AND TAXATION PUBLIC HEARING CITY COUNCIL CHAlVIBERS DECE:rvmlB~ 1, 1998 at 7:00 p.m. PUBLIC tmARlNG AGENDA 1. Call to Order 2. Adopt Meeting Agenda 3. Open Public Hearing 4. Truth and 'Taxation Hearing Presentation - Staff 5. City Council Review and Discussion 6. Citizen Comments and Questions 7. Close Public Hearing 8. Council Aiction Items - Set Certification Date 9. Adjourn J 1999 Council Budget Guidelines .. A commitment to maintain the 1999 Local Tax Capacity Rate at the same level as in 1998 . The Proposed 1999 Budget reduces the local tax capacity rate from 33.6 to 32.5 percent. .. A fiscal goal that works toward establishing the General Fund Balance at no less than 25% . The Proposed 1999 Budget continues to move the generalJund balance upwardsfrom 13.2% to 14.6%. .. A commitment to maintain the 1999 Debt Service Levy at no more than 25% . The Proposed 1999 Budget maintains the debt service levy at 21.7% of the total City Levy. 1999 Council Budget Guidelines (continued) & A comprehensive review of the condition of capital equipment to ensure the most cost-effective and consistent replacement schedule . The Proposed 1999 Budget recommends approximately $ 807, 000 in new and replacement capital equipment spending to ensure the City can meet expanding service delivery challenges. & A team approach that encourages strategic planning to meet immediate and long-term operational, infrastructure and facility needs . The Proposed 1999 Budget is the product of a team approach by all departments to meet service goals and operational needs. & A management philosophy that actively supports the implementation of Council policies and goals and recognizes the need to be responsive to changing community conditions/ concerns. . The Proposed 1999 Budget is a riflection of conservative, yet reality-based budgeting in response to a rapidly growing community. < ~. .. ,.. , r ~ " ~ ,.. Determination of Proposed 1999 Tax Capacity Rate Fiscal Disparities Dist. (1) $ 1,169.673 X 1998 Tax Capacity Rate of equals $ 393,476 in FIscal Disparities Distribution the City of Fannington will recieve in 1999 33.640% Fannington requested levy for 1999 is 1999 2,530.069 1998 2.496,208 $ 1997 2.351.293 Minus Fiscal Disparties Distribution 393,478 395,272 $ 329,393 Minus HACA\lPA Credit 395,126 394,928 $ 391,995 Minus Equalization Aid $ Equals Levy to Collect (2) $ 1,741.465 $ 1,706,008 $ 1,629,905 (3) 6,383,979 6,073,948 $ 5,535,693 (4) 364,356 359,203 326,102 (5) 679,271 643,348 539,783 $ 5,340,352 $ 5,071,397 $ 4,669,808 1,741,465 (adj. Levy) divided by $ 5,340,352 $ 5,071,397 32.6096% 33.640% 34.903% 1999 Net Tax Capacity Value Less Local contribution to Fiscal Disparities Less Amount to Tax Increment Amount used to c1etennine Tax Capacity Rate 1998 Tax Capacity Rate will then be (adj. tax capacity value) equalS: (1)According to County property Tax DiYision. (2)Stale mandated Levy Limit $2,522,919. (3) Estimated 1999 GTCV as of Dakota County November 1, 1998 . (4) According to Dakota County November 1, 1998. (5) According to Dakota County November 1, 1998. REVISED1211198 City of Farmington. Minnesota Property Tax Levy General Fund Levy Certified 1997 1,072,754 Certified 1998 1,111,008 1999 Proposed 1,141,465 Debt Service Funds Supplemental Levy 42,608 105,509 Against City Property 361,696 361,239 349,491 Equipment Certi,ficates 150,455 146,153 95,000 *Total Debt Service 512,151 550,000 550,000 Capital Project Levy Fire Levy 45,000 45,000 50,000 Total Capital Projects Total City Levy 1,629,905 1,706,008 1,741,465 HRA Levy 1,629,905 1,706,008 1,741,465 TOTAL LEVY Tax Capacity Rate 34.903% 33.640% 32.610% -Adjusted Tax Capacity Value $ 4,669,808 $ 5,071,397 $ 5,340,352 *Pre!;minary 1999 Debt Service levy is based on City's Debt Management Study. ** Adjusted Value determined by deduc:!ing Fiscal' Disparmes and Tax 'ncrement estimates. REvISED 1211/98 DAKOTA COUNTY TREASURER-AUDITOR ADMINISTRATION CENTER 1590 HIGHWAY 55 WEST HASTINGS. MINNESOTA 55033-2392 LOCAL BUDGET INFORMATION Your Proposed Property Tax for 1999 r '" ~tfti!l.n.Nof.jSilf.~NctPay~ . IMPORTANT INFORMATION IS PRINTED ON THE BACK OF THIS FORM OWNER: Property 10: SUHHlSIDE ADD TO FARMINGTON 16 1 The taxable market values below are final and are not a subject for the upcoming budget hearings. They were discussed at the board of equalization hearings held earlier this year. The taxable market value for 1999 taxes may reflect a reduction under the limited market value law or the .old house. law. PROPERTY CLASS(ES): PAY 1998 PAY 1999 RESD HSTD RESD BSTD TAXABLE MARKET VALUE FOR 1998 TAXES: $ TAXABLE MARKET VALUE FOR 1999 TAXES: $ 94 , 500 94,600 COUNTY OF DAKOTA $ 303.72 $ 15.07 $ -12.34 306.45 li'ARMINGTOK REGULAR TAX $ 373.74 $ 13.07 $ -33.80 S 353.01 TRANSIT TAX S .00 S .00 S .00 S .00 SCH DIST 192 STATE DETERMINED LEVY $ 260.06 $ .00 $ -127.88 $ 132.18 VOTER APPROVED LEVIES $ 344.04 $ 27.72 $ -2.74 S 369.02 OTHER LOCAL LEVIES S 42.93 S -1.35 S -15.13 S 26.45 ron SCHOOL DISTUCT US SCDJ)tn.m) TO lIOLD 1 1D'DDfD1JII 1! TD KOVDBD GElfDlL II.%CTION. II' mIS u:l'DDD1JII US lPUOnD, TU 5aOOL DlSTUCT'S nOPUTr TAX roa l''' !lU BE KIGBD nllN TD nOPOSED 1BOnT SHan ON nllS NOTICZ. METRO SPECIAL S 17.10 S 1.17 $ -.66 S 17.61 TAXING DISTRICTS OTHER SPECIAL S 8.45 S .78 $ -.47 S 8.76 TAXING DISTRICTS TAX INCREMEHT TAX S .00 $ .00 $ .00 S .00 FISCAL DISPARITY TAX S .00 S .00 $ .00 $ .00 TOTALS .. S 1,350.04 S 56.46 $ -193.02 $ 1,213.48 (Excluding Special Assessments) Percentage change (proposed 1999 total tax over 1998 total tax) - - - - - - - - - - - - -> -10.1% , WBln~N'C~MMEN:tS.TC:: ..:~. ,'. ~ . : ;.':..?: .: '''aUbGEt HEARINGS: lQCAttoNS&DAJ'eS . '- '. . . DAKOTA COUNTY ADMINISTRATION BLOG COUNTY BOARD ROOM HASTINGS, MN 55033 DEC. 3, 1998-7:00 PM DAlOTA COUNTY ADMIN 1590 HIGHWAY 55 WEST HASTINGS, KN 55033 651-438-4576 FARMINGTON CITY COUNC. CHAMBERS 325 OAK STREET FARMINGTON,KN 55024 n~~' ~OQQ_~_nn nM ROBIN ROLAND-FINANCE 325 OAK STREET FARMINGTON,"N 55024 651-463-1880 Analysis of Proposed Property Tax Statement 1998 Market Value $ 94,500.00 Market Value Increase 1999 Market Value $ 94,600.00 OLD RULES $0 - $75,000 OVER 75,000 @1% @ 1.85 % 1998 value 1999 value 750 750 361 361 TOTAL TAX CAPACITY VALUE 1,111 1,111 City Tax Capacity Rate 33.64% 32.60% City Taxes on Property 362.10 NEW RULES 1998 value 1999 value $0 - $75,000 @1% 750 750 OVER $75,000 @ 1.70 % 332 333 TOTAL TAX CAPACITY VALUE 1,082 1,083 City Tax Capacity Rate 33.64% 32.60% City Taxes on Property 363.82 Page 1 0.11% DAKOTA COUNTY TREASURER-AUDITOR ADMINISTRATION CENTER 1590 HIGHWAY 55 WEST HASTINGS, MINNESOTA 55033.2392 LOCAL BUDGET INFORMATION Your Proposed Property Tax for 199~ '.', -ihisisN'dtttBur.Db Not'Fiay - .~ IMPORTANT INFORMATION IS PRINTED ON THE BACK OF THIS For Property 10: OWNER: M MOES ADDITIOK 20 34 The taxable market values below are final and are not subject for the upcoming budget hearings. They wer discussed at the board of equalization hearings held earl if this year. The taxable market value for 1999 taxes mE. reflect a reduction under the limited market value law or t~ .old house. law. PROPERTY CLASS(ES): PAY 1998 RESD HS1'D PAY 1999 RESD HSTD TAXABLE MARKET VALUE FOR 1998 TAXES: $ TAXABLE MARKET VALUE FOR 1999 TAXES: $ 150,700 150,900 i1& ~.. .~. (' . "(otJ' ." .> .. '-' " " . -. -;' .~ -' ~~. . - " '. . . . .i I " ,.. . ". . .: ~. .' . J" ,. .s- - . ". ':"..~.-: . _ . . DiKiitt ....~..'"..ftmttttatfhjf '. Pt 1"lI>>.. COtnrrY OF DAKOTA $ 587.73 $ 28.37 S -38.85 S 577.25 FARMINGTON REGULAR TAX S 723.26 S 24.62 S -82.92 S 664. 96 TRANSIT TAX S .00 S .00 S .00 S .OC SCH DIST 192 STATE DE'IE1U'IIHED LEVY S 519.32 S .00 S -101.61 S 417.71 VOTER APPROVED LEVIES S 640.84 S 58.10 S -13.10 S 685.84 OTHER LOCAL LEVIES S 83.08 S -2.53 S -30.71 S 49.84 IOn SCHOOL DISTUCT liS SCUDULED to IOLD 1 ID'DDJ)UI! 1T TJIE MOVDIBD QDDlL ILJ:CTIC~ II' THIS ID'DDIlUl! IlS lPP10VID, no: SCHOOL DISDICT' S P10PUTr TlX rea 1'" ftlI BE IIIQJID THlH TJIE ROPOSED utOUHT SJlon 011 TJlIS MOrIa. METRO SPECIAL S 33.11 S 2.20 S -2.15 $ 33.16 TAXING DISTRICTS OTHER SPECIAL $ 16.36 $ 1.47 S -1.33 $ 16.50 TAXING DISTRICTS TAX INCREl!ElfT TAX S .00 S .00 $ .00 S .00 FISCAL DISPARITY TAX S .00 S .00 $ .00 $ .00 --'--.----.--'-.--',-- TOTALS .. S 2,603.70 $ 112.23 S -270.67 S 2,445.26 (Excluding Special Assessments) Percentage change (proposed 1999 total tax over 1998. t~.tal tax) - - - - - - - - -> -6.1% ,...i.',~.,~'.;..ri,,~'\i~i~lp.4"' .. "". :. _ c :: '. ~ . ~':.,: ~ ,V""I'I.:tICN'~UM~ICN~~Ii~:.~" :. ~_.. .-' :: ;'I,.~ <~'" DAKOTA COUNTY ADMINISTRATION BLOG COUNTY BOARD ROOM HASTINGS, MN 55033 DEC. 3, 1998-7:00 PM DAKOTA COUNTY ADMIN 1590 HIGHWAY 55 WEST HASTINGS, MN 55033 651-438-4576 FARMnmTOll CITY COUNC. CHAMBERS 325 OAK STREET . FARMINGTON ,f'!lf 55024 ROBlK ROLAND-FINANCE 325 OAK STREET FARf'IINGTOK,f'I1f 55024 651-463-1880 ~ Analysis of Proposed Property Tax Statement 1998 Market Value $ 150,700.00 Market Value Increase 0.13% 1999 Market Value $ 150,900.00 OLD RULES $0 - $75,000 OVER 75,000 @1% @ 1.85 % 1998 value 1999 value 750 750 1,400 1 ,400 TOTAL TAX CAPACITY VALUE 2,150 2,150 City Tax Capacity Rate 33.64% 32.60% City Taxes on Property 701.05 NEW RULES 1998 value 1999 value $0 - $75,000 @1% 750 750 OVER $75,000 @ 1.70 % 1,287 1,290 TOTAL TAX CAPACITY VALUE 2,037 2,040 City Tax Capacity Rate 33.64% 32.60% City Taxes on Property 685.21 Page 1